Home > Term: annual financial statements
annual financial statements
Part of a company's annual report consisting of the balance sheet, the profit and loss account and the notes. Banks with total assets of CHF 100 million or more which transact a significant amount of balance sheet business are also required to produce a cash flow statement. Annual financial statements are intended to enable as reliable an assessment as possible of the company's asset and earnings situation.
- Part of Speech: noun
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
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Creator
- Stefan K
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